ASGN Incorporated (NYSE:ASGN) Receives Average Recommendation of “Hold” from Analysts

Shares of ASGN Incorporated (NYSE:ASGN) have received an average rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $97.22.

ASGN has been the subject of several research reports. Jefferies Financial Group reduced their target price on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, September 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 price objective on shares of ASGN in a research note on Thursday, July 25th.

ASGN Stock Down 2.4 %

Shares of ASGN stock opened at $93.12 on Thursday. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 21.56 and a beta of 1.40. The stock’s 50-day moving average is $93.49 and its 200 day moving average is $94.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 2.34. ASGN has a one year low of $76.70 and a one year high of $106.42.

ASGN (NYSE:ASGN) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.33 by $0.03. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 EPS. Equities research analysts anticipate that ASGN will post 5.14 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arshad Matin sold 2,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the completion of the sale, the director now owns 11,645 shares in the company, valued at $1,077,278.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ASGN news, Director Jonathan S. Holman sold 503 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total value of $45,496.35. Following the transaction, the director now directly owns 10,821 shares in the company, valued at $978,759.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arshad Matin sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the completion of the transaction, the director now owns 11,645 shares in the company, valued at approximately $1,077,278.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Reinhart Partners LLC. lifted its position in shares of ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after acquiring an additional 39,607 shares in the last quarter. Argent Capital Management LLC grew its holdings in ASGN by 43.8% during the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock valued at $830,000 after buying an additional 2,868 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of ASGN by 1,851.6% in the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after buying an additional 18,868 shares in the last quarter. LRI Investments LLC bought a new position in shares of ASGN in the first quarter valued at approximately $154,000. Finally, Handelsbanken Fonder AB grew its stake in ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

ASGN Company Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.